True up question

[axeman462]

I am of course a newer agent, but if you ever share tips and what not, I would love to talk to you personally.

I'd be happy to help anytime. Feel free to send me a PM if you ever have any questions

 

[DonP]

I'd be happy to help anytime. Feel free to send me a PM if you ever have any questions

lol. She wants to talk to you personally !!! . Not email you . Pick your brain.

 

[rmhaire]

lol. She wants to talk to you personally !!! . Not email you . Pick your brain.

Couldn't help but notice that she picked him and not you or me.

The girl obviously has standards.

 

[Todd King]

You bring up interesting pts on overrides . Are all the override commission negotiable with carriers like new to the carrier or new to Medicare ? I know standard overrides on new to carrier for fmo's are about $250 . Do all carriers pay less with carrier to carrier overrides ? I know united pays less overrides on csnp's . Do most carriers pay higher overrides on new to Medicare than new to the carrier or? Are fmo's making $200 an app. Marketing money with the bigger carriers? I know some carriers like WellCare used to pay bigger fmo overrides

FMOs can make $250 for a true up, if they put you on a low enough level. However, for the most part, that's a big negative!

 

[MedicareWAA]

FMOs can make $250 for a true up, if they put you on a low enough level. However, for the most part, that's a big negative!

To me, the wildest thing is that the large call centers earn that full override plus all sorts of soft money. The largest ones make more money on these things than on commissions. It can be almost $1,000 just in first year admin sh!t. And because of the amount of business they write, they get a pass on miserable compliance and horrendous churn.

The deck is stacked against smaller outfits.

 

[wehotex]

new to MA is new to MA.
most carriers do not pro-rate the full commission.

The first half is, but the True Up adds up to FMV. You can even download the commission schedules on any agent website. Humana's is right there on the main page (if you are actually contracted with any of these companies. I'm starting to think you are a total fraud.). Page 9 and 10 of the PPP shows how much you make depending on the month the policy is sold in.

And guess what, it adds up to the CMS allowable FMV. $626

He is referring ONLY to prospects with an existing PDP.
Those are only paid double FMV, NOT True-Up.

 

[kak6407]

I just looked at my 2024 commissions with Aetna. Moved two that only had Med Supp and PDP since they turned 65 (have been with me since then) last AEP so coverage started 1/1/2024. I was only paid $305 on each. I sent an email to my Aetna rep to see if I can get the True Up but Im not holding my breath

 

[DonP]

I just looked at my 2024 commissions with Aetna. Moved two that only had Med Supp and PDP since they turned 65 (have been with me since then) last AEP so coverage started 1/1/2024. I was only paid $305 on each. I sent an email to my Aetna rep to see if I can get the True Up but Im not holding my breath

You"ll get full true up In the next 5 days as the true ups paid around the 9th or 10th of month . I got some Humana true ups that only had med sup and a pdp card today . Again it's a pro rated true up which is the full amount as you have 12 months true up. If you did these same application this month for Feb 1 effective date you'd only get 11 months full true up 11x $52( $26 regular comp and $26 full true up) .

 

[DonP]

To me, the wildest thing is that the large call centers earn that full override plus all sorts of soft money. The largest ones make more money on these things than on commissions. It can be almost $1,000 just in first year admin sh!t. And because of the amount of business they write, they get a pass on miserable compliance and horrendous churn.

The deck is stacked against smaller outfits.

Where do you get $1000 for admin overrides? About $250 override on the mapd and maybe $200-$300 total soft money "marketing" on the marketing . What other payments are you including ?

 

[kak6407]

You"ll get full true up In the next 5 days as the true ups paid around the 9th or 10th of month . I got some Humana true ups that only had med sup and a pdp card today . Again it's a pro rated true up which is the full amount as you have 12 months true up. If you did these same application this month for Feb 1 effective date you'd only get 11 months full true up 11x $52( $26 regular comp and $26 full true up) .

This was from LAST years commissions. I moved them during AEP of 2023 for a 1/1/2024 start date. I was paid $305 on the 3 that I moved in January 2024. Is there any chance that Aetna would have paid me the $306 in December of 2023? Their statements only go back to Jan 2024. I would need to order Nov and Dec 2023 statements to see if they were on there. Just seems odd that they would pay me prior to Jan 2024?